Madagascar had been trying to push up its cloves prices from the start of its 2009 crop last October. As a result, the origin had probably missed some good opportunities to sell larger volumes.
Madagascar cloves prices is understandable to an extent, since the country's economy is struggling and currency movements are pushing its prices up.
Madagascar's 2009 crop was disappointing and the origin was anticipating better demand. Moreover, some cloves producers in Madagascar managed to continue trading successfully, shipping considerable quantities, despite the underlying difficulties...READ MORE